In the last year, there has been a lot of discussion about bitcoin treasuries and public firms incorporating bitcoin into their balance sheets. However, the most valuable crypto asset by market capitalization is not the only digital money held by governments. Ethereum has established itself as a significant treasury asset, with some companies reportedly holding the second most valued cryptocurrency in their reserves.
The Value of Ethereum Treasuries Has risen
According to the list of bitcoin treasuries, exchange-traded funds, governments, public corporations, and private enterprises own 1,559,047 bitcoin (BTC) worth around $66 billion. While these institutions possess bitcoin, they also own ethereum (ETH), which is owned by investors and organizations that believe in the currency’s future. For instance, on Thursday, fund manager Three Arrows Capital was reported to have purchased 31,345 ether. On the same day, Su Zhu, co-founder of Three Arrows Capital, told Bloomberg that he remains enthusiastic about crypto investments.
Twelve corporations have treasuries holding close to $700 million in Ethereum.
These are the top ten companies that possess ethereum, according to a list supplied by cryptotreasuries.org (ETH). The list indicates that the 12 distinct entities hold 212,875 ether.
Cryptotreasuries.org provides information on 12 separate funds and businesses that own ethereum. The entities now hold 212,875 ether worth over $700 million, according to figures. According to cryptotreasuries.org, Galaxy Digital Holdings is the biggest holder on that list, with 98,892 ether at the time of writing. This implies that Galaxy Digital Holdings owns 46.45% of the 212,875 ether held by the 12 entities.
With 43,512 ether, Ether Capital Corporation ranks second on the list. Ether Capital Corporation owns 20.44 percent of the cryptotreasuries.org portfolio. Coinbase Global (31,787 ether), Meitu (15,000 ether), and Hive Blockchain are further large holders of ethereum treasury (13,331 ether). Additionally, there is another ethereum treasuries list hosted on pory.app called ethtreasuries.pory.app, which has a range of other holdings.
For example, the web portal mentions a number of organizations that own “undisclosed” amounts of ethereum, including M31 Capital, Gerber Kawasaki Investment Management, Arca Labs, Heat Capital, and FD7 Ventures. In comparison to the list kept on cryptotreasuries.org, this list of ether treasuries is out of date, with some of the sources questionable. However, the list on ethtreasuries.pory.app includes entities such as Three Arrows Capital and the Grayscale Ethereum Trust, which both possess tens of thousands of ether.